History of Ray Dalio in Timeline
Raymond Thomas Dalio is a prominent American investor and hedge fund manager. He is renowned for co-founding and leading Bridgewater Associates, the world's largest hedge fund, from 1975 to the present. Established in New York City, Bridgewater Associates, under Dalio's co-chief investment officership since 1985, has cemented its position as a leader in the global financial landscape.
1911: Birth of Marino Dallolio
Ray Dalio's father, Marino Dallolio, a jazz musician, was born in 1911.
August 8, 1949: Birth of Ray Dalio
Ray Dalio was born on August 8, 1949, in New York City.
1973: Dalio Graduates from Long Island University
Ray Dalio obtained his bachelor's degree in finance from Long Island University (C.W. Post College) in 1973.
1973: Dalio Earns MBA from Harvard
Ray Dalio received his MBA from Harvard Business School in 1973.
1974: Dalio's Tenure at Shearson Hayden Stone
Ray Dalio worked as a futures trader and broker at Shearson Hayden Stone in 1974. He was later let go from his position.
1975: Founding of Bridgewater Associates
In 1975, Ray Dalio established Bridgewater Associates, initially operating as a wealth advisory firm.
1975: Founding of Bridgewater Associates
In 1975, Ray Dalio founded Bridgewater Associates from his two-bedroom New York City apartment.
1979: Birth of Paul Dalio
Ray Dalio's second son, Paul Dalio, a film director, was born in 1979.
1981: Bridgewater Opens Westport Office
Bridgewater Associates expanded by opening an office in Westport, Connecticut, in 1981.
1984: Dalio's First Visit to China
In 1984, Dalio visited China for the first time, observing the country's fascination with basic technologies like calculators.
1985: Ray Dalio Becomes Co-CIO of Bridgewater Associates
In 1985, Ray Dalio assumed the role of co-chief investment officer of Bridgewater Associates, the world's largest hedge fund.
1987: Dalio Profits from Stock Market Crash
Ray Dalio gained recognition for profiting from the 1987 stock market crash.
1991: Launch of Pure Alpha Strategy
Bridgewater introduced its flagship "Pure Alpha" strategy in 1991.
1991: Bridgewater's Consistent Performance
From 1991 to 2005, Bridgewater experienced only three calendar years of losses, never exceeding 4%.
1996: Launch of All Weather Fund
Dalio spearheaded the launch of the "All Weather" fund in 1996, pioneering a low-risk, steady investment strategy.
2002: Death of Marino Dallolio
Marino Dallolio, Ray Dalio's father, passed away in 2002.
2002: S&P 500 Experiences Negative Return
The S&P 500 index recorded a negative return of 22.1% in 2002.
2005: Bridgewater Becomes World's Largest Hedge Fund
Bridgewater Associates attained the status of the world's largest hedge fund in 2005.
2007: Bridgewater Predicts Financial Crisis
Bridgewater Associates accurately predicted the 2007-2008 financial crisis.
2007: Bridgewater Raises Alarm on Financial Leverage
In the spring of 2007, Bridgewater Associates began issuing warnings about the risks associated with excessive financial leverage.
2008: Bridgewater Navigates Financial Crisis
Bridgewater's Pure Alpha fund successfully navigated the 2008 stock market implosion, generating a 9.5% return after fees.
2008: Publication of "How the Economic Machine Works"
Ray Dalio published an essay titled "How the Economic Machine Works: A Template for Understanding What is Happening Now" in 2008, analyzing economic potentials.
February 2009: Dalio Introduces the Concept of "D-Process" to Describe Deleveraging and Deflation
In February 2009, Dalio began using the term "d-process" to differentiate the deleveraging and deflationary process of the subprime mortgage industry from a typical recession. He later incorporated this term into his investment philosophy.
2009: Bridgewater's Modest Performance
Bridgewater's Pure Alpha fund recorded a modest return of 2% to 4% in 2009, a year of economic growth.
April 2011: Joining the Giving Pledge
Demonstrating his commitment to philanthropy, Ray Dalio and his wife joined Bill Gates and Warren Buffet's Giving Pledge in April 2011, pledging to donate more than half of their wealth to charitable causes during their lifetime.
2011: Dalio Publishes "Principles" and Gains Recognition as an Influential Investor
In 2011, Dalio self-published his book "Principles," outlining his philosophy on investment and corporate management. This same year, he managed money for prominent institutions like SERS, Kodak, General Motors, and the Government Investment Corporation of Singapore.
February 2012: Stake in Bridgewater Associates Purchased by Teacher Retirement System of Texas
In February 2012, the Teacher Retirement System of Texas (TRS) purchased a stake in Bridgewater Associates Intermediate Holdings, LP for $250 million. This stake was non-voting and thus provided the pension fund with very little control of corporate governance.
2012: Dalio Foundation Asset Growth
By the end of 2012, the Dalio Foundation, established as Ray Dalio's primary philanthropic vehicle, had accumulated assets worth $590 million, reflecting his dedication to giving back to society.
2012: Golden Plate Award from American Academy of Achievement
Ray Dalio was honored with the Golden Plate Award from the American Academy of Achievement in 2012. Carlyle Group co-founder David Rubenstein presented the award during the International Achievement Summit in Washington, D.C., recognizing Dalio's significant contributions.
2013: Bridgewater Becomes World's Largest Hedge Fund
In 2013, Bridgewater Associates was recognized as the world's largest hedge fund.
2013: Substantial Contribution to the Dalio Foundation
In 2013, Ray Dalio made an additional contribution of $400 million to the Dalio Foundation, further increasing its assets to approximately $842 million and enabling the foundation to expand its philanthropic endeavors.
2014: Significant Earnings and Compensation
Ray Dalio's financial success was evident in 2014 when he reportedly earned $1.1 billion, a combination of management fees, performance bonuses, cash compensation, stock options, and awards from his firm.
2015: Ranked Second-Wealthiest Hedge Fund Manager by Forbes
In 2015, Forbes estimated Ray Dalio's net worth to be $15.4 billion, securing his position as the second-wealthiest hedge fund manager globally, following George Soros.
March 2017: Dalio Steps Down as Co-CEO of Bridgewater Associates
In March 2017, Dalio announced he would be stepping down as co-CEO of Bridgewater Associates as part of a company-wide shakeup. This was the culmination of a seven-year management and equity transition to find his replacement.
October 2017: Bridgewater Associates Reaches $160 Billion in Assets Under Management
By October 2017, Bridgewater Associates had $160 billion in assets under management.
2017: CNBC Recognizes "Principles" as a Top Business Book
CNBC included Ray Dalio's book, "Principles," in its list of the 13 best business books of 2017. This recognition highlighted the book's valuable insights and its impact on the business world.
2017: Dalio Publishes "Principles: Life & Work"
In 2017, Dalio published "Principles: Life & Work," which became a New York Times bestseller.
2017: Publication of "Principles: Life & Work"
Ray Dalio authored and published "Principles: Life & Work" in 2017, a book focusing on corporate management and investment philosophies. It became a New York Times bestseller.
2018: Dalio Publishes "Principles for Navigating Big Debt Crises"
In 2018, Dalio authored and published "Principles for Navigating Big Debt Crises."
2018: Commitment to Ocean Conservation
In 2018, OceanX, an initiative spearheaded by the Dalio family, partnered with Bloomberg Philanthropies. They committed a substantial $185 million over four years towards ocean conservation efforts, reflecting their shared dedication to protecting marine ecosystems.
2018: Substantial Compensation Based on Fund Performance
Ray Dalio received an estimated $2 billion in compensation in 2018 following his fund's impressive 14.6% return, highlighting his exceptional performance in the hedge fund industry.
March 2019: Recognition as a Top-Earning Hedge Fund Manager
Forbes recognized Ray Dalio as one of the highest-earning hedge fund managers and traders in March 2019, further solidifying his position as a prominent figure in the finance industry.
April 7, 2019: Dalio Calls Income Inequality a National Emergency
On April 7, 2019, during a 60 Minutes interview, Dalio stated that income inequality in the United States was a national emergency that needed to be addressed.
July 2019: Dalio Reiterates Call for Refinement of Capitalism and Addresses Wealth Inequality
In July 2019, Dalio again called for the refinement of capitalism and labeled wealth inequality a national emergency.
November 2019: Dalio Warns of a "Paradigm Shift" Due to Economic Challenges
In November 2019, Dalio published a blog post warning of a "paradigm shift" due to excess capital, unfunded social liabilities, and government deficits, creating a recipe for disaster.
2019: Dalio Publishes Illustrated Version of "Principles for Success"
In 2019, Dalio released an illustrated adaptation of his book titled "Principles for Success."
February 2020: Donation to Support China's Coronavirus Recovery
In February 2020, as the COVID-19 pandemic emerged, the Dalio Foundation donated $10 million to aid China's recovery efforts, demonstrating their global philanthropic reach.
March 2020: Support for Connecticut's Healthcare and Nutrition Needs
In March 2020, recognizing the impact of the pandemic on local communities, the Dalio Foundation provided $4 million to the state of Connecticut. This funding aimed to strengthen healthcare services and address nutritional needs within the state during the challenging time.
May 2020: Dalio Emphasizes Reforming Capitalism, Not Abandoning It
In May 2020, Dalio highlighted the importance of reforming capitalism instead of abandoning it, emphasizing that it remained the best system despite its flaws, particularly in the face of the unfolding crisis.
October 13, 2020: Launch of Dalio Center for Health Justice
On October 13, 2020, with a generous donation of $50 million from the Dalio Foundation, NewYork-Presbyterian Hospital inaugurated the Dalio Center for Health Justice. This research and advocacy organization aims to bridge healthcare disparities and improve access to quality healthcare for underserved communities, particularly those of color.
October 2020: Dalio Highlights Stagnant Income Growth and Rising Inequality in the US
In October 2020, Dalio pointed out the lack of income growth for average Americans over the previous two decades, with the bottom 60% experiencing no inflation-adjusted income growth since the 1980s. He warned about the increasing wealth gap and its potential consequences.
October 2020: Dalio Presents China as a Rising Superpower
In October 2020, Dalio urged people to recognize China's rise as a global superpower, highlighting its economic performance, low COVID-19 case rates, and dominance in initial public offerings. He argued that China had caught up with the U.S. in advanced technologies and would likely surpass it within the next five years.
2020: Dalio Ranked 79th Wealthiest Person
Bloomberg ranked Ray Dalio as the world's 79th wealthiest individual in 2020.
2020: Death of Ray Dalio's Son
Tragedy struck the Dalio family in 2020 when their eldest son, Devon, passed away at the age of 42 due to injuries sustained in a car accident.
2021: Dalio Publishes "Principles for Dealing with the Changing World Order"
Dalio published "Principles for Dealing with the Changing World Order" in 2021.
2021: Dalio Launches "PrinciplesYou" Personality Assessment
In 2021, Dalio created and launched "PrinciplesYou," a free online personality assessment tool.
January 2022: Ranked Among the World's Richest by Bloomberg News
Bloomberg News reported Ray Dalio's net worth as $15.7 billion in January 2022, ranking him as the 123rd wealthiest person globally.
January 21, 2022: High Ranking on Forbes Billionaire and Forbes 400 Lists
As of January 21, 2022, Forbes estimated Ray Dalio's net worth to be $20 billion, placing him 88th on their list of billionaires and 36th on the prestigious Forbes 400 list.
November 2023: New York Times Investigative Report Raises Questions About Dalio's Investment Practices
In November 2023, a New York Times investigative report questioned claims about Dalio's investment philosophy and Bridgewater's methodology. The report suggested the fund's investments were largely based on Dalio's personal picks and insider information, contradicting the image of a sophisticated investment system.